What is the role of the Drug Formulary Committee in relation to pharmacy practices?

The Drug Formulary Committee plays a vital role in establishing a list of medication products that are covered or excluded from a pharmacy's formulary. This process helps ensure that only safe, effective, and necessary medications are available to patients. By annually reviewing and updating this list, the committee can adapt to changes in clinical guidelines, new drug approvals, and emerging evidence of drug efficacy and safety.

This role is particularly important in managing the medications that a pharmacy will dispense, as it controls the scope of drug options available to patients and ensures that prescribing practices align with best practices and patient care standards. By establishing a list of excluded drug products, the committee can also influence medication costs and accessibility, promoting the use of cost-effective therapeutic options while maintaining a focus on quality of care.

In contrast, other aspects such as pharmacy location regulations, supply chain management, and retail pricing fall under different administrative or operational responsibilities and are not specifically managed by the Drug Formulary Committee.